Minh Phu Seafood Corp to boost shrimp exports to Russia
(vasep.com.vn) On March 27th, 2013, Minh Phu Seafood Corp signed a factoring contract with VietinBank in Ca Mau province. Le Van Diep – Minh Phu’s Deputy General Director – and Tang Xuan Lam – Deputy Director of Ca Mau-based subdivision of VietinBank attended to the signing ceremony. The new cooperation will help Minh Phu to boost shrimp exports to Russia.
Russia is considered as a potential market for Minh Phu’s shrimp products, but the company was hesitant to send larger volume of products in a fear of risks because Russian buyers only pay after they receive cargos. Hence, the factoring contract will help Ca Mau-based firm mitigate risks from Russian partners.
In 2013, Minh Phu Seafood Corp plans to increase its shipment of shrimp products to Russia and strengthen cooperation with VietinBank.
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